The email looked routine: a wire transfer request to pay for a family safari in Kenya. But something felt off. When we received the message from a longtime client asking us to send funds to a third-party account in East Africa, we didn’t process it. We picked up the phone instead.
“I’m glad you called,” the client said. He was indeed in Kenya, getting the family ready for a safari the following week. But the relief in his voice had roots in something that happened years earlier.
A costly lesson from the past
Before working with us, this client had maintained a U.S. bank account while living in Israel. Fraudsters hacked his email and sent the bank a request to wire a large sum. The bank processed it without calling to verify.
He eventually recovered the money, but the bank’s response was unexpected: they closed his account. The incident flagged compliance concerns, and rather than navigate the complexity of serving a client abroad, they ended the relationship.
That experience left him searching for a firm that understood both the regulatory environment and the reality of managing U.S. assets from overseas. It is why a simple phone call mattered so much this time.
Why personal relationships still matter in finance
Large institutions often rely on automated systems. When something unusual appears, the default response is restriction or termination rather than investigation. For Americans living in Israel, this creates a real vulnerability. Cross-border transactions already attract scrutiny. Add fraud risk, and many banks simply prefer to exit the relationship.
A smaller firm with direct client relationships can do what a call center cannot: recognize when something doesn’t fit the pattern and verify before acting. That verification protects both client and firm from fraud, compliance failures, and irreversible mistakes.
We explained the U.S. anti-money-laundering rules that prevent wiring funds to third-party foreign accounts. The client understood and found another way to handle it. The relationship continued because someone who knew him made a phone call.
If you manage U.S. accounts from Israel, working with a firm that knows you personally is not a luxury. It is a safeguard. Visit profile-financial.com/call or call 02-624-2788.
Douglas Goldstein, CFP® is the director of Profile Investment Services, Ltd. profile-financial.com. He is a licensed financial professional both in the U.S. and Israel. Call (02) 624-2788 for help with your U.S. brokerage and IRA accounts. Securities offered through Portfolio Resources Group, Inc. Member FINRA, SIPC, MSRB, FSI. The author’s opinions are not necessarily those of PRG or its affiliates. Neither PRG nor its affiliates provide tax or legal advice.
Published August 4, 2026.